As you know, NAW has long been involved in the fight for comprehensive tax reform, with particular focus on leveling the playing field between industries – including wholesale distribution – that have historically paid high effective tax rates and those industries that have enjoyed single digit effective rates – or even secured tax refunds.

We have also led the Coalition effort to preserve Last-In, First-Out (LIFO).

The tax bill signed into law by President Trump just before Christmas addresses both of those issues to the benefit of the wholesale distribution industry.

There are many detailed analyses of the provisions of the tax bill available today, and we are not attempting to add yet another. Instead, we thought we’d share with you a brief back story of the tax reform debate and enactment – a report you have most likely not read in the press on how the legislation took shape as it moved through the House and Senate and to the President’s desk, and we are also providing a brief listing of the key business provisions.